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Rare opportunity to finish a building with 13%++ cap rate!! Unlock the potential of this value-add property, where the heavy lifting of renovations has already been completed, all major structural work done- framing, windows, rough plumbing, and electrical. The current framing that has been completed enables various uses, from 5 apartments (zoning variance is required), to 4 apartments, triplex, duplex, down to extra-large single that can be used as a group-housing of 12 bedrooms. Currently zoned as RSA5, previously was zoned as multi-unit, up to 5 units. ARV $850k++ Development Options: ================= - 5-Unit Apartment Building: Requires zoning variance, previously configured as multi-unit. - 4 Units, Triplex, or Duplex: Choose the layout that suits your investment strategy. - Single-Family Group Housing: NO NEED FOR VARIANCE- Up to 12 bedrooms, perfect for high-rent group setups like transitional or veteran housing. Projected Rents: In any configuration, the total potential income (conservative estimate) $7,300/mo or $87,600 annually!: ================= - Multi-Family (5 Units): Around $1,450 to $1,500 per unit per month - Group Housing: organizations will pay over $8k a month for a 12BRs property. Remaining Work (Estimated Cost $120,000 to $160,000): ================= - Install HVAC. - Hang drywall. - Paint and lay down flooring. - Fit out kitchens and bathrooms. The building was zoned previously as multi-unit and is sold as-is, blueprints are attached
Property Type(s):
Multi Family
| Last Updated | 4/1/2025 | Tract | FRANKFORD |
|---|---|---|---|
| Year Built | 1940 | Community | 19124 (19124) |
| County | PHILADELPHIA |
SCHOOLS
| School District | PHILADELPHIA CITY |
|---|
Price History
| Prior to Apr 1, '25 | $324,900 |
|---|---|
| Apr 1, '25 - Today | $299,000 |
Additional Details
| AIR | None |
|---|---|
| AREA | 19124 (19124) |
| BASEMENT | Full, Unfinished, Yes |
| CONSTRUCTION | Brick, Brick Veneer, Stucco |
| HEAT | None |
| LOT | 2178 sq ft |
| LOT DIMENSIONS | 19.00 x 118.00 |
| PARKING | Off Street |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 3 |
| STYLE | AirLite |
| SUBDIVISION | FRANKFORD |
| TAXES | 3838 |
| WATER | Public |
Location
Listing provided by BHHS Fox & Roach-Haverford
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2025 BRIGHT, All Rights Reserved. Information Deemed Reliable But Not Guaranteed. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.
Data last updated: 4/19/25 4:06 AM PDT
This IDX solution is (c) Diverse Solutions 2025.
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